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Bausch + Lomb Corporation
(NYSE:BLCO)
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Rating:56Neutral
Price Target:
$16.50
▼(-1.90% Downside)
Action:Reiterated
Date:05/21/26
The score is driven primarily by improving operating trends and balance-sheet strength, reinforced by a constructive earnings call with raised guidance and meaningful adjusted margin expansion. This is tempered by continued net losses and weak free-cash-flow conversion, while technicals are neutral and valuation remains challenged due to negative earnings and no dividend support.
Positive Factors
Margin expansion and operating leverage
Substantial adjusted EBITDA and gross-margin improvement reflect durable operating leverage from higher-margin Pharma and premium products. Sustained margin expansion supports reinvestment in R&D and commercial buildouts, improving profitability resilience beyond transitory items.
Negative Factors
Negative net margins
Ongoing negative net margins mean GAAP profitability has not been reached despite operating improvements. Persistent accounting losses limit retained earnings accumulation, constrain capital allocation flexibility, and may require continued operational gains to translate adjusted EBITDA into sustainable net income.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin expansion and operating leverage
Substantial adjusted EBITDA and gross-margin improvement reflect durable operating leverage from higher-margin Pharma and premium products. Sustained margin expansion supports reinvestment in R&D and commercial buildouts, improving profitability resilience beyond transitory items.
Read all positive factors
Bausch + Lomb Corporation Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows how much revenue each business segment generates, highlighting core strengths and areas of growth or decline within the company’s operations.
Shows how much revenue each business segment generates, highlighting core strengths and areas of growth or decline within the company’s operations.
Data provided by:
The Fly
The FlyBausch + Lomb Corporation (BLCO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.12B
Dividend YieldN/A
Average Volume (3M)405.48K
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue Growth7.85%
EPS Growth39.85%
CountryUS
Employees13,500
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.62
Shares Outstanding356,536,350
10 Day Avg. Volume391,487
30 Day Avg. Volume405,477
Financial Highlights & Ratios
PEG Ratio-1.26
Price to Book (P/B)0.94
Price to Sales (P/S)1.18
P/FCF Ratio-91.56
Enterprise Value/Market Cap1.65
Enterprise Value/Revenue1.94
Enterprise Value/Gross Profit3.47
Enterprise Value/Ebitda15.56
Forecast
1Y Price Target
$18.43Price Target Upside9.56% Upside
Rating ConsensusHold
Number of Analyst Covering9
EPS Forecast (FY)0.8
Revenue Forecast (FY)$5.47B
Bausch + Lomb Corporation Business Overview & Revenue Model
Company Description
Bausch + Lomb Corporation is a leading global eye health company. Its operations are structured across three primary segments: Vision Care/Consumer Health, Ophthalmic Pharmaceuticals, and Surgical. The Vision Care/Consumer Health division offers a...
How the Company Makes Money
BLCO primarily makes money by selling eye health products through a mix of consumer retail channels and professional/clinical channels. A major revenue stream comes from vision care products, including contact lenses (sold via eye care professiona...
Bausch + Lomb Corporation Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call emphasized substantial progress on execution: consistent revenue growth, large adjusted EBITDA and margin expansion, strong Pharma and premium product momentum, active pipeline and elevated R&D investment — all supported by a modest guidance raise. Lowlights were mostly transitional or seasonal (Surgical field-force rebuild, weather-related disruptions, regional softness, prescription seasonality, and cash/capex timing). Overall, the positives—material margin improvement, strong product-level growth (notably Miebo, Xiidra, Daily SiHy, premium IOLs), and upgraded guidance—outweigh the temporary challenges.Positive Updates
Top-Line Growth
Total company revenue of $1.244 billion in Q1, up 6% year-over-year on a constant currency basis; FX provided a tailwind of approximately $42 million in the quarter.
Negative Updates
Surgical Segment Near-Term Disruption
Surgical revenue only increased 1% ($228 million) and missed expectations due to weather-related procedure disruptions, reimbursement pressure in select markets, and a deliberate U.S. surgical field force rebuild that created near-term transition impacts.
Read all updates
Q1-2026 Updates
Positive
Negative
Top-Line Growth
Total company revenue of $1.244 billion in Q1, up 6% year-over-year on a constant currency basis; FX provided a tailwind of approximately $42 million in the quarter.
Read all positive updates
Company Guidance
Management raised full‑year revenue guidance by $45 million to $5.42–5.52 billion (implying ~5.3%–7.2% constant‑currency growth, ~+30 bps vs. prior) and increased adjusted EBITDA guidance by $10 million to $1.01–1.06 billion (≈19% margin at the midpoint, ~16% YoY EBITDA growth and roughly 3x revenue growth), while forecasting a ~$50 million full‑year currency tailwind, adjusted gross margin of ~62%, R&D at 7.5%–8% of revenue, interest expense of about $365 million, an adjusted tax rate of ~19% and unchanged full‑year CapEx of ~$285 million (weighted to H1); Q1 that informed the raise included $1.244 billion revenue (+6% YoY; ~$42M FX tailwind), $200 million adjusted EBITDA (+59% YoY) and 16.1% EBITDA margin (+500 bps), 61.2% adjusted gross margin (+170 bps), adjusted R&D of $101 million (+15–17% YoY), adjusted operating cash flow of $45 million and CapEx of $100 million, and management reiterated a target to reach ~3.5x net leverage by year‑end 2028.Bausch + Lomb Corporation Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
66
Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.21B | 5.10B | 4.79B | 4.15B | 3.77B | 3.77B |
| Gross Profit | 2.91B | 2.79B | 2.92B | 2.50B | 2.25B | 2.30B |
| EBITDA | 649.00M | 535.00M | 601.00M | 499.00M | 598.00M | 733.00M |
| Net Income | -219.00M | -360.00M | -317.00M | -260.00M | 6.00M | 182.00M |
Balance Sheet | ||||||
| Total Assets | 13.78B | 14.02B | 13.47B | 13.44B | 11.14B | 10.82B |
| Cash, Cash Equivalents and Short-Term Investments | 268.00M | 383.00M | 305.00M | 334.00M | 380.00M | 174.00M |
| Total Debt | 5.07B | 5.37B | 4.94B | 4.68B | 2.55B | 140.00M |
| Total Liabilities | 7.33B | 7.50B | 6.92B | 6.52B | 4.04B | 1.42B |
| Stockholders Equity | 6.38B | 6.45B | 6.47B | 6.85B | 7.03B | 9.33B |
Cash Flow | ||||||
| Free Cash Flow | 4.33M | -66.00M | -59.00M | -198.00M | 170.00M | 680.00M |
| Operating Cash Flow | 340.39M | 283.00M | 232.00M | -17.00M | 345.00M | 873.00M |
| Investing Cash Flow | -466.16M | -455.00M | -412.00M | -2.11B | -215.00M | -214.00M |
| Financing Cash Flow | 172.25M | 225.00M | 178.00M | 2.08B | 81.00M | -712.00M |
Bausch + Lomb Corporation Technical Analysis
Positive
16.82
Price Trends
15.76
Positive
16.32
Positive
16.18
Positive
Market Momentum
0.27
Negative
73.09
Negative
90.09
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLCO, the sentiment is Positive. The current price of 16.82 is above the 20-day moving average (MA) of 15.59, above the 50-day MA of 15.76, and above the 200-day MA of 16.18, indicating a bullish trend. The MACD of 0.27 indicates Negative momentum. The RSI at 73.09 is Negative, neither overbought nor oversold. The STOCH value of 90.09 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BLCO.
Bausch + Lomb Corporation Risk Analysis
Bausch + Lomb Corporation disclosed 53 risk factors in its most recent earnings report. Bausch + Lomb Corporation reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bausch + Lomb Corporation Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $8.03B | 156.48 | 2.46% | ― | 17.36% | ― | |
68 Neutral | $4.24B | 30.25 | 8.95% | ― | 11.34% | 12.26% | |
65 Neutral | $5.19B | 32.61 | 9.63% | 0.29% | 15.54% | 21.77% | |
57 Neutral | $14.47B | 62.88 | 2.84% | ― | 6.09% | -42.65% | |
56 Neutral | $6.12B | -27.72 | -3.41% | ― | 7.85% | 39.85% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $2.33B | -3.70 | -41.21% | 5.61% | -1.02% | 30.67% |
* Healthcare Sector Average
BLCO
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MMSI
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RGEN
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142.40
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STVN
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19.00
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-21.69%
Bausch + Lomb Corporation Corporate Events
Executive/Board ChangesShareholder Meetings
Bausch + Lomb Shareholders Back Board and Executive Pay
Positive
May 20, 2026
At its Annual Meeting of Shareholders held on May 20, 2026, Bausch + Lomb Corporation’s investors elected a full slate of directors, including Eduardo Alfonso, Nathalie Bernier and Brenton L. Saunders, to serve on the board until the close o...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.